Battery maker Enovix's prelim Q2 revenue beats estimates
Overview
Enovix Q2 preliminary revenue rises to $7.5 mln, beating analyst expectations, per LSEG data
Q2 preliminary Adjusted EBITDA loss narrows to $21.4 mln, beating estimates, per LSEG data
Company completes SolarEdge asset acquisition in South Korea
Outlook
Enovix expects to scale significantly with new products and customers.
Company anticipates continued momentum in revenue and adjusted EBITDA.
Result Drivers
CUSTOMER DEMAND - Revenue nearly doubled from Q2 2024, driven by demand across multiple end markets
POSITIVE GROSS PROFIT - Achieved positive gross profit for third consecutive quarter, contrasting with losses in Q2 2024
STRATEGIC EXECUTION - CEO cites execution to plan and momentum in scaling operations with new products and customers
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $7.50 mln | $5.57 mln (11 Analysts) |
Q2 EPS |
| -$0.22 |
|
Q2 Net Income |
| -$43.30 mln |
|
Q2 Adjusted EBITDA | Beat | -$21.40 mln | -$25.50 mln (8 Analysts) |
Q2 Gross Profit |
| $800,000 |
|
Press Release: ID:nGNX8PN3GF
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